2 KEY FACTORS NEVER TO HIDE FROM YOUR AGENT
Effective communication is a fundamental factor within successful relationships. This is especially true for the relationship between the prospective homebuyer and the real estate professional with whom they choose to work. An open communication channel is imperative for an agent to fully understand what you as a buyer want and need, especially when it comes to your budget and your wishlist…
#1: Never hide what you can truly afford
Some buyers are reluctant to provide information about their finances because they want to try and get a bargain price on a property or because they think they can put in a cheeky offer on a home they cannot afford with the hope that it will be accepted. Buyers who say they can afford less than they can usually do not trust that their agent is on their side. Knowing that agents work on a commission basis can lead you to think that you’re only being shown properties within your upper price range so that your agent might secure a higher paycheque. If this is how you feel, then you should look for a new estate agent you can trust.
Buyers who say they can afford more than they can are only hurting themselves. You may fall in love with a home that you simply cannot afford. Being 100% honest with your estate agent means that your agent will only show you homes that you should be able to afford – even if the asking price is beyond your budget. Estate agents usually know the sellers and can tell if they would be willing to drop their asking price or not. If you’re honest with your agent, the agent can then recommend an amount within your budget that the selling would be willing to consider.
#2: Tell your agent exactly what you’re looking for
Apart from your financial information, it’s also important for you to have a clear idea as to what you’re looking for in a home. Before approaching an agent, you should sit down and make a list of your must-haves and the things you’d like to have but are willing to compromise on. Once you know what you want, it’s far easier for you to communicate this to your agent and give them a clear picture of the type of property you require - this will make house hunting way easier.
Why should you trust your agent?
Good agents understand that the real estate business is about building and maintaining relationships, not earning a commission from selling brick and mortar. They’ll be focused on securing a client for life, rather than just the commission from one transaction. It’s in their best interest to do the best possible job and find the right fit for both you and the seller, ensuring that the transaction meets everyone’s criteria.
Your agent will be able to narrow down the search and pinpoint the perfect property based only on the information that you’ve provided. The more information you can provide your agent, the faster you can find your dream home and make an offer. If you work with an agent you trust and are comfortable sharing information with, the process will be far easier and quicker. When you start searching for a home, it’s best to be upfront with your real estate professional regarding your criteria and exactly what you’re willing to pay to ensure that all your property needs are met. This approach will guarantee that you leave a satisfied new homeowner.